FIFA Confederations Cup and World Youth Day boosts 2013 tourism flows
Under the glare of the global spotlight due to the upcoming 2014 FIFA World Cup and 2016 Rio Olympics Games, the hosting of the FIFA Confederations Cup and World Youth Day in 2013 helped Brazil solidify its competitive positioning as a tourist destination within the travel and tourism global industry. These two mega-events boosted tourism flows during the year and helped Brazil reach a historic record regarding international arrivals. In addition, it also contributed to an outstanding performance for domestic tourism flows, which benefited from the fact that these were two geographically dispersed events.
Upcoming mega-events encourage companies to invest in mobile applications
As the 2014 FIFA World Cup and 2016 Rio Olympics Games get closer, companies are investing in mobile applications targeting international tourists. Menu translators, tourism guides, health-related information, linguistic guidance, laws and culture and other applications were designed for smartphones and tablets, thus turning into powerful tools for tourists coming to Brazil for the upcoming events. This will leave an important legacy for Brazil’s online tourism infrastructure, which will be especially important for overcoming the language barrier given that the country is Portuguese-speaking and a low percentage of the population has knowledge of a foreign language.
Brazil faces growing allure of business travel among mid-sized cities
Government infrastructure investments, rising consumer purchasing power and lower costs and tax incentives for operators in smaller centres are driving substantial economic growth in Brazilian medium-sized cities. As a result, cities such as Sinop/MT, Três Lagoas/MS, Macaé/RJ, Ouro Preto/MG and Juazeiro do Norte/CE are witnessing a strong increase in tourism services demand, with investment interest growing rapidly, particularly for hotel chains focusing on budget/mid-priced accommodation for business travellers.
CVC Viagens becomes first non-air tourism company to go public in Brazil
In December 2013, CVC had its Initial Public Offering (IPO) on the Brazilian Stock Exchange BM&F and became the first non-air tourism company to go public in Brazil. The IPO closing price was R$16, below the R$18-22 range set by the company. Industry experts linked this low performance to the current macroeconomic context, whereby the economic slowdown is affecting household spending on tourism. Despite this, the IPO had a significant impact on the industry as it represents a diversification of opportunities for investment in travel and tourism in Brazil. In addition, CVC paper prices are expected to increase during 2014 as the company shows positive results.
Challenging macroeconomic scenario negatively impacts air transportation
With the bulk of costs pegged to the dollar and revenues in local currency (Real), 2013 was a challenging year for the Brazilian air transportation industry. During the year, the country faced a strong Real depreciation relative to the US Dollar which, combined with rising fuel prices, resulted in a relatively weak performance. In order to sustain healthy margins in a challenging macroeconomic scenario, leading companies changed their strategy and increased their focus on business travellers in order to maximise profitability and reduce their leisure offer so as to maintain attractive prices.
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